Assam government has approved farm loan waiver to the tune of Rs 600 crore which will benefit around eight lakh farmers of the state, its spokesman said on Tuesday.
As per the scheme, the government will write off 25 per cent loan of farmers up to a maximum of Rs 25,000 of all farm debts, Assam Government spokesperson and Parliamentary Affairs Minister Chandra Mohan Patowary said.
The waiver will be for all the loans taken through Kisan Credit Card (KCC) and from PSU banks, he said.
The government has also sanctioned an interest relief scheme which will enable around 19 lakh farmers to take loans at zero interest from the next financial year, he said.
The decisions were taken at a cabinet meeting was held on Monday night.
“The debt relief scheme for farmers will waive 25 per cent of all loans taken till now. The benefit will be up to a maximum of Rs 25,000. This scheme will immediately benefit around eight lakh farmers,” he said.
The cabinet decided to enhance the state Freedom Fighters’ pension from Rs 20,000 to Rs 21,000.
The meeting also approved the formation of a Micro and Small Enterprises Facilitation Council to help the growth of MSME sector in the state, the minister said.
The government also sanctioned Rs 32.72 crore loan from National Cooperative Development Corporation for revival of a jute mill at Nagaon, he added.